Last week UBS said shorts from 1.1060 was the trade and their stop at the 200 dma 1.1110 remains the line in the sand
This week their trade remains the same and they say that they are planning to add ahead of 1.1090. Their first target is the Friday low at 1.0987, then 1.0950
In GBPUSD the 1.5500/10 level is on their radar and they prefer to fade rallies ahead of it (don't know if this note was out before or after the test earlier). They suggest a stop above 1.5520
Separately, on their BOE rate hike push back to May 2016 they say that they moved because of the slightly lower growth profile forecast based on external risks and domestic growth easing
While Feb is not off the cards fully, they want to see more than just the manufacturing data improving
Last week they wanted to sell rallies to 0.7280 with a stop above 0.7310. that proved a good trade and now they want to sell rallies between 0.7150 an d0.7200 with a stop above 0.7280. They're hoping to see it move below 0.7000
eFX News has this note and you can grab lots more via a free 30 day trial
